Import iron ore prices in China have seen drops today, Thursday, December 19, due to steel production reductions, slow demand and futures falling for the last three days.
Iron ore fines with 62 percent Fe content have indicated a drop of $0.85/mt on December 19 to $102.1/mt CFR. This level is $4.6/mt below that was seen on December 12. Brazilian iron ore with 65 percent Fe has decreased by $0.9/mt on December 19 to $115.85/mt CFR, while down $5.15/mt week on week, SteelOrbis has learned.
Six deals of 363,000 mt iron ore have been signed at Corex platform on December 19. In particular, 170,000 mt of 62 percent BRBF fines have been dealt at $102.85/mt CFR for shipment during January 18-27. Also, 80,000 mt of 61.7 percent Newman fines have been sold at $99.4/mt CFR for shipment during January 11-20, and 90,000 mt of 60.5 percent Jimblebar blended fines have been dealt at January index -$4.7/mt, shipment during January 11-20.
During the given week, import iron ore prices in the Chinese domestic market have edged down as steelmakers’ molten iron outputs have seen declines. Though given the approaching Chinese New Year holiday (January 28-February 4), downstream users have still been unwilling to build up stocks for iron ore. Meanwhile, more iron ore has been delivered to the ports, resulting in the rising inventory levels, exerting a negative impact on its prices. It is thought that import iron ore prices may move down further in the coming week.
Iron ore futures prices at Dalian Commodity Exchange have decreased by 1.08 percent today at RMB 778.5/mt ($108.3/mt) compared to the previous trading day, December 18, while decreasing by RMB 34/mt ($4.7/mt) compared to December 12.
As of December 19, rebar futures at Shanghai Futures Exchange are standing at RMB 3,287/mt ($456/mt), decreasing by RMB 141/mt ($20.6/mt) or 4.1 percent since December 12, while down 1.5 percent compared to the previous trading day, December 18.
Imported iron ore prices in China (week-on-week basis)
Product name |
Iron |
Truck loaded price |
Change |
Price |
Change |
Newman iron ore lump |
63/63.5 |
879 |
-24 |
122.2 |
-3.4 |
Yandi fines |
58/59 |
740 |
-15 |
102.9 |
-2.2 |
PB Fines |
62 |
775 |
-15 |
107.8 |
-2.2 |
PB iron ore lump |
62/63 |
888 |
-9 |
123.5 |
-1.4 |
Brazil fines |
63 |
793 |
-12 |
110.3 |
-1.8 |
Price includes VAT.
Nationwide iron ore concentrate prices (66 percent Fe)
Place of origin |
Market price (RMB/mt, Incl. VAT) |
Change |
Price（$/mt) |
Change |
Tangshan |
855 |
-18 |
119 |
-3 |
Beipiao |
831 |
0 |
116 |
0 |
Price includes VAT.
$1 = RMB 7.1991